What is Primus Power?
Primus Power is a specialized developer of long-duration, fade-free energy storage systems, primarily utilizing zinc bromide flow battery technology. By providing a stable, non-toxic alternative to traditional storage methods, the company enables organizations to optimize energy costs, integrate renewable sources on-demand, and bolster grid resilience during power outages. With a focus on 20-year lifespans and daily cycling capabilities, Primus Power serves a diverse client base, including commercial enterprises, industrial facilities, and utility providers seeking to modernize their energy infrastructure.
How much funding has Primus Power raised?
Primus Power has raised a total of $92.2M across 6 funding rounds:
Series A
$4.1M
Series B
$11M
Series C
$20M
Series D
$25M
Private Equity
$32M
Debt
$150K
Series A (2010): $4.1M with participation from Chrysalix Venture Capital
Series B (2011): $11M led by I2BF Global Ventures and Chrysalix Venture Capital
Series C (2014): $20M supported by Kleiner Perkins Caufield & Byers, I2BF Global Ventures, Anglo American Platinum Limited, and Chrysalix Energy Venture Capital
Series D (2015): $25M featuring Anglo American Platinum, I2BF Global Ventures, DBL Partners, and Chrysalix Energy Venture Capital
Private Equity (2017): $32M backed by Success Dragon International Holdings Limited, Russia Kazakhstan Nanotechnology Fund, DBL Partners, and Anglo American Platinum Limited
Debt (2020): $150K with participation from PPP
Key Investors in Primus Power
Chrysalix Venture Capital
A leading global venture capital fund specializing in resource-intensive industries and high-value industrial innovation across North America and Europe.
I2BF Global Ventures
An international technology-focused venture capital firm with a global mandate to invest in companies that contribute to a sustainable and brighter future.
DBL Partners
A prominent impact investing firm that focuses on clean tech, sustainability-oriented products, and healthcare, leveraging a double bottom line investment model.
What's next for Primus Power?
Looking ahead, Primus Power is positioned to leverage its established capital base to further penetrate the global smart grid market. The strategic focus remains on enhancing the commercialization of its flow battery technology, ensuring that its industrial-grade solutions meet the increasing demand for grid-scale reliability and sustainability. As the energy landscape shifts toward decentralized and renewable-heavy models, the company's ability to provide consistent, long-duration storage will be a critical factor in its long-term operational success and market differentiation.
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